Bet on This $1 Cannabis Stock (Just Off the Las Vegas Strip)

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Caesars and MGM aren't the only investment options if you want a stake in Sin City and maybe you should look just off the Las Vegas Strip.

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Rajendra Choudhary
Rajendra Choudharyhttps://livetimesnews.com
Rajendra Choudhary is The Founder & CEO of Live Times Media Pvt. Since 2019 He Started his Digital Journey and Built a Victory in The Media and Education Industry with over 5 Websites and Blogs.

According to the song New York is a place where you can succeed anywhere, but if you can succeed there, Las Vegas can claim that title as well. If you can be successful as a restaurant manager, retailer, casino/hotel company or entertainment venue in Sin City, your chances of success are very high.

Not only does Las Vegas attract the best, but it is also a city that attracts tourists, not least from the Vegas Strip and the Fremont Street area. Whoever created Los Angeles’ founding district is proving it in a market dominated by major players, including Caesars Entertainment (CZR) – Get Caesars Entertainment Inc. Get Reports, MGM Resorts International (MGM) – MGM Resorts International Get Reports and Wynn Resorts (WYNN) – Wynn Resorts Limited Get reports.

However, Las Vegas presents some unique circumstances. For example, New York City has a lot of tourism, but it does not drive the economy of the city as a whole. Las Vegas has a business that makes sense, but it may not translate elsewhere.

But the city’s best investments have shown that operations near the Las Vegas Strip can use the lessons learned and special lessons learned during the pandemic to spread business across the country.

Planet 13

What Is the Best Investment in Las Vegas? 

Planet 13 (PLNHF) may seem like a small player when compared to Caesars, MGM and Wynn, but long-term investments are often based on potential rather than current performance. And while this cannabis drugstore stock is currently trading at $1.15, well above its 52-week high of $7.17, it remains to be seen what the company can show (not the macro-economic headwinds that brought it down).

In its most-recent quarter, Planet 13 showed steady improvement in most areas.

  • Revenues were $25.7 million as compared to $23.8 million, an increase of 8%
  • Gross profit was $12.9 million or 50.2% as compared to $13 million or 54.7%
  • Net income before taxes of $0.7 million as compared to a net loss of $2.7 million
  • Net loss of $2.1 million as compared to a net loss of $6 million

But the reality is that you don’t buy Planet 13 because of what the company is now. Because if you buy stock, you believe in the company’s ability to export proven models (supermarkets and small local market service pharmacies as well as your own wholesale brands).

Planet 13 Has a Proven Model

Planet 13 has become a huge attraction in Las Vegas, but it has also served the locals with its smaller brand of medicine. It has also gained meaningful market share by selling the brands it owns and working for competitors.

The company has now expanded to California, plans to open a major store in Chicago, and plans to add multiple locations in Florida to serve medical users who need a license. Planet 13 finally believes it can run a supermarket in a market large enough to support professional sports teams.

The company has long-term plans for growth, but it continually achieves this while protecting its balance sheet.

  • $62.1 million to $61.6 million in cash
  • Net worth: $216.8 million to $274 million
  • $43.1 million versus $41.2 million in total debt

Co-CEO Bob Grosbeek said: “We are developing the Florida roadmap as we work on a dual-track to bring agriculture and retail online. We are excited to drive growth in our Florida business throughout 2023.” Inc. started. In expanding our farming facilities, we have incredibly expanded the supply of our renowned premium flower line.”

Planet 13 thrives in a highly competitive market and has grown into a targeted retail brand serving the local population. The Las Vegas supermarket giant has built an export model to other cities, and the company’s operational capabilities will help establish a foothold with wholesale brands.

It may take Planet 13 several years to grow large enough to see a rise in the stock price, but the company has shown it has the right mix to succeed, and it will take time and legal intervention (the Florida plan will reap the expected benefits)). Finally, legalize recreation (at that point). The company has long-term plans and is well positioned to benefit from changing laws in key markets.

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